Volumes rise and demand increases across capital city auction markets

A preliminary auction clearance rate* of 66.1 per cent was recorded this week across capital cities compared to 66.6 per cent last week and 67.1 per cent this time last year.

Demand from buyers was clearly sufficient to ensure that the clearance rate was largely unaffected by the substantial 61 per cent rise in homes on offer at auction compared to this time a year ago.

In the Sydney market demand strengthened with a preliminary clearance rate of 76.2 per cent recorded compared to 69.9 per cent last week. Buyers have welcomed the increased choice this week.

In Melbourne demand and supply continue to be well balanced with a preliminary clearance rate of 61.7 per cent recorded compared to 68.8 per cent last week.

In Brisbane a preliminary clearance rate of 49.5 per cent was recorded compared to 46.5 per cent last week. Adelaide recorded a clearance rate of 67.2 per cent compared to 63.8 per cent last week. In Canberra a clearance rate of 50.9 per cent was recorded and in Perth there was a clearance rate of 45.2 per cent. In Tasmania there was 2 sales from 4 results.

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